Business
UAE-India Startup Series Draws 10,000 Founders, Boosts Economic Ties
NEW DELHI: The India-UAE Startup Series, launched in June this year, is turning economic diplomacy into a real-world opportunity, with the largest start-up initiative attracting more than 10,000 founders from across the country and sectors, UAE Ambassador to India Abdulnasser Alshaali said on Thursday. Alshaali, in his keynote address...
India Posts Highest-Ever Defence Output Of Rs 1.54 Lakh Crore In FY25
NEW DELHI: The government on Thursday said that India recorded its highest-ever defence production of Rs 1.54 lakh crore in FY 2024–25, setting a new benchmark in the country’s pursuit of self-reliance in the defence sector. This growth is supported by the record indigenous production of Rs 1,27,434 crore...
Growth Of Eight Key Infrastructure Sectors Remains Flat In October
NEW DELHI: Output from India’s eight core sectors flatlined in October from an upgraded 3.3 per cent uptick in September, as growth in construction-linked sectors and refinery products was negated by marked contractions in energy sectors like coal, natural gas and electricity, according to data released by the Ministry...
PSU Banks Power Asset Quality Gains; Private Players Maintain Red-Lines In Q2
MUMBAI: The second quarter of the current fiscal was all for the public sector lenders—the traditional laggards on all key metrics– with their robust recoveries and upgrades, lower fresh slippages coupled with higher write-offs and sales to ARCs, their gross bad loans hitting a decadal low of 2.1 percent...
Reliance Stops Import Of Russian Crude Oil Into Jamnagar’s SEZ Refinery
NEW DELHI: Mukesh Ambani-led Reliance Industries Ltd (RIL) has stopped import of Russian crude oil into its Special Economic Zone (SEZ) refinery in Jamnagar, Gujarat, with effect from November 20, the company said in a statement late Thursday evening. This comes hours before the United States’ sanctions on Russian...
CAG To Conduct Pan India Audit On Ease Of Doing Business For MSMEs
NEW DELHI: The Comptroller and Auditor General of India (CAG) has launched an integrated audit across 32 states and Union Territories to assess the ease of doing business for the micro, small and medium enterprise (MSME) sector. The move shifts the approach from vertical, deep-dive audits to a horizontal,...
Investment Rate Of 32 Per Cent Needed To Achieve Over 7% Growth: EAC-PM Chief
NEW DELHI: India needs to increase the investment rate to 34-35 per cent from 31-32 per cent currently to achieve a growth rate of 7 per cent and above, said Mahendra Dev, chairman, economic advisory council (EAC) to the Prime Minister, on Wednesday. He added that for this to...
Banks Seek More Leeway In Acquisition Financing
MUMBAI: Banks have flagged off several restrictions in the Reserve Bank of India’s (RBI) acquisition financing guidelines, as they believe that these will limit their participation in the merger and acquisition (M&A) space. These include capital caps, equity restructuring as well as inability to fund smaller deals, among others....
Government Hardens Stance, No Relief For ACC-PLI Defaulters
NEW DELHI: The ministry of heavy industries (MHI) has issued fresh notices to all three beneficiaries of the Advanced Chemistry Cell (ACC) production-linked incentive (PLI) scheme who failed to meet mandated timelines for setting up their manufacturing plants. The government has directed Ola Electric, Reliance New Energy and Rajesh...
MoSPI To Revise CPI Base Year Every 3-5 Years: Secretary
NEW DELHI: The Ministry of Statistics and Programme Implementation (MoSPI) may conduct the revision of the base year for the Consumer Price Index (CPI) series more frequently after the release of the new series in February, MoSPI Secretary Saurabh Garg said on Wednesday. The secretary underlined that the idea...
Government Working On Easing Investment Norms To Ensure More FDI Inflow
NEW DELHI: The government is open to all suggestions for increasing investment in India. Senior government officials on Tuesday said the government’s approach would remain ‘balanced’. “We are open to all suggestions regarding investment in India, easing the investment climate in our interest. We have to carefully take every...
India’s GDP Growth May Cross 7.5 Per Cent In Q2: SBI Research Report
NEW DELHI: India’s GDP growth is expected to reach 7.5 per cent or more in the second quarter of the current fiscal, mainly driven by robust festive sales triggered by the GST rate cut in late September, a SBI research report said on Tuesday. Growth is being supported by...
State-Run Banks Lead Recovery In Net Interest Margins, Private Players Still Struggling
MUMBAI: State-run banks are set to see better earnings in the third and fourth quarters and going ahead as the biggest pain point — falling net interest margins (NIMs), the key profitability gauge, — has stabilised sequentially in the September quarter for most of them (though on-year most of...
India’s IT Spend May Rise 10.6% To $176 Billion In 2026: Gartner
MUMBAI: India’s information technology (IT) spend is projected to touch $176.3 billion in 2026, rising 10.6 per cent from 2025, and outpacing the 9.8 per cent growth expected globally, according to the latest forecast by Gartner Inc., a business and technology insights company. The growth is being propelled by...
New System To Capture Emerging Industries For Economic Data
NEW DELHI: As part of its efforts to widen and update sourcing of economic data, the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday introduced a system to capture emerging industries like digital platforms, renewable energy and intermediation services. The reorganisation of sections and restructuring groups under the...
IPOs Increasingly Becoming Exit Vehicles For Early Investors: CEA
MUMBAI: India’s equity markets may have expanded rapidly, but initial public offerings (IPOs) are increasingly becoming exit vehicles for early investors rather than as engines for raising long-term capital, a shift that undermines the spirit of public markets, Chief Economic Advisor V Anantha Nageswaran warned on Monday at a...
Exports Fall 11.8 Per Cent In October, Trade Deficit Widens To $41.68 Billion
NEW DELHI: India’s exports contracted 11.8 per cent to $34.38 billion in October on account of the impact of high tariffs by the US, while the trade deficit widened to a record high of $41.68 billion mainly due to a jump in gold imports. According to government data released...
Economy Losing Steam In Q2 To 7% On Poor Show By Services, Farm Sectors: ICRA
MUMBAI: Stating that the economy has likely lost the steam sequentially, when it clipped past 7.8 percent in the June quarter, due to the poor show by the services and farm sectors, Icra Ratings has forecast that the economy would have grown 7 percent in the September quarter, which...
